What can baldor do to improve its situation

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Baldor, Inc. measures the marginal rate of technical substitution (MRTS) at MP_L/MP_K = 3. The prices of labor and capital faced by Baldor are such that currently W/R = 4.

a. Is Baldor minimizing its costs?

b. What can Baldor do to improve its situation?

Reference no: EM131336031

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